Oil ends below $100, but gains 0.2% on week

SAN FRANCISCO (MarketWatch) -- Oil futures fell on Friday to close below $100 a barrel, giving back earlier gains on the back of a strengthening U.S. dollar, but prices still rose on the week. "Fundamentally, we are well supplied and should be at lower prices," said Tariq Zahir, managing member at Tyche Capital Advisors. Recent U.S. data showed a decline in weekly crude inventories, but supplies remain near record levels. Fundamentals will eventually be the focus in the market - it's just not there yet, Zahir said. June oil
CLM4, +0.17%
fell 27 cents, or 0.3%, to settle at $99.99 a barrel on the New York Mercantile Exchange. Based on the most-active contracts, futures prices rose 0.2% for the week.

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